Negotiations between China and the United States on trade and economic issues have begun in Geneva.

A high-level meeting between representatives of China and the United States on economic and trade issues is taking place in Geneva. This was reported on May 10 by the Xinhua news agency.

The People's Republic of China (PRC) is represented by Vice Premier He Lifeng, and the United States is represented by Finance Minister Scott Bessent.

"Member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council of the People's Republic of China He Lifeng, being the coordinator for trade and economic relations between China and the United States on the Chinese side, held talks with the coordinator on the American side, U.S. Treasury Secretary Scott Bessent," the website said.

Stumble upon a tariff: how much will the mutual duties of China and the United States hit their economies

And who was best prepared for the trade war started by Trump?

On April 22, the head of the US Treasury Department, Scott Bessent, said that the ongoing trade standoff between Washington and Beijing is unstable, and its de-escalation may occur soon.

On the same day, US President Donald Trump announced that the United States would reduce the percentage of customs duties on China, but not to zero. Then he admitted that the total US duties on goods from China, which currently amount to 145%, is a lot.